AA 5.15% 5 year bond withdrawal: some calculations

Rollinghome

So that might be another sum for the calculator. If it was taxed I'd guesstimate the lost interest/charge to be the equivalent of around 114 days at 20% and nearer 140 days at 40%. I'll leave the exact figures to Porcupine.

Porcupine

It's a rather difficult question to phrase, but I did ask AA. The lady on the phone referred to it as '90 days loss of interest' and that it would be at whatever rate you receive on the account. So if you're registered net you lose interest at the net rate. So as far as I understand it you effectively receive back the tax you paid on the lost interest.

(If anyone else wants to phone and ask a similar question and see if we get the same answers, please do)

Rev_Rhubar

The AA & BM seem to have removed the 5.15% bond from their sites. I wonder when they were closed (if it was just today and I post a cheque they might still accept the investment).

Porcupine

AA closed on Wednesday or Thursday last week - same day as Martin's email.

Did you apply and get a 'welcome to your account, please send your cheque now' letter? In which case you have a little time. I think I was told 28th on the phone, but other people here all say 23rd. So you have time if you get it in quick. Mine's going off Special Delivery this afternoon.

Rev_Rhubar

I had opened an account a few weeks ago and had already put money in. I was wanting to top up. Anyway if I post it today it should get there by the 23rd (I heard somewhere that special-delivery and signed-for etc letters will not be affected by the postal strike).

stratford_2

Does anyone know the exact address, for the savings team? I remember it was a PO Box, but I don't think you can send items by special delivery to those? Thanks.

Rollinghome

stratford wrote: »

Does anyone know the exact address, for the savings team? I remember it was a PO Box, but I don't think you can send items by special delivery to those? Thanks.

Which one? Saga, BM and AA are all slightly different.

Yes you can send Special Delivery to those addresses but the postcode needs to be keyed in manually. Some sub-post offices don't know how to do it so you might be better going to a main post office.

Rev_Rhubar

On my welcome letter the address is:
Birmingham Midshires, PO Box 81, Pendeford Business Park, Wobaston Rd, Wolverhampton, WV9 5HZ.

Porcupine

On my cheque envelope it says:

AA Savings Team - D470/8019
PO Box 81
Pendeford Business Park
Wobaston Road
Wolverhampton
WV9 5BR

Sometimes when sending by Special Delivery to Freepost or similar addresses the address won't verify because it isn't in the computer. It helps if you can find another postcode (on the website, perhaps) to verify, even though it'll get sent to the original one. I can't find an alternative for AA, but the address according to BM's website is the same but at WV9 5HZ.

Porcupine

Post Office accepted the AA postcode with no problems.